REGISTERED COMPANY NUMBER: 06316554 (England and Wales) REGISTERED CHARITY NUMBER: 1124771
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2024
for
R.A.S.C.A.L. (Regeneration Association Somerton Community at Large)
R.A.S.C.A.L. (Regeneration Association Somerton Community at Large)
Contents of the Financial Statements for the Year Ended 31 March 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 11 |
R.A.S.C.A.L. (Regeneration Association Somerton Community at Large) (Registered number: 06316554)
Report of the Trustees for the Year Ended 31 March 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
Objectives and activities
Objectives and aims
R.A.S.C.A.L is a group made up of volunteers that work in partnership with the Communities 1st team and other service providers to help improve the loves of Somerton residents. The centre delivers: youth clubs, boxing sessions, dancing, drama, parenting groups, bingo, PCSO surgery, food co-op, community café, workshops, IT courses, sporting and youth sessions.
Public benefit
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. We review our aims, objectives and activities each year. This review looks back at what we achieved and the outcomes of our work in the previous year. This review helps us ensure our aims, objectives and activities are main focused on our stated purposes.
Achievement and performance
Charitable activities
Youth Sessions Sports Sessions Bingo Breakfast Club Learning - Courses Young Parents Group Dancing Boxing External room hire Community Cafe Bowls Cookery Sessions Crèche Provision Community Events Councillor/PCSO Surgeries Onsite gym Job Clubs Meetings Polling Station Flying Start provision
Financial review
Results
The net incoming resources for the year amounted to £3,724 (2023: outgoing resources of £22,690). The unrestricted fund has achieved a profit for the year of £17,151 (2023: deficit of £9,263). The restricted fund deficit is due to the annual depreciation charge on those assets, the cost of which was funded and recognised as income in an earlier accounting period. As no related income was received in this financial year this cost is reducing the unspent balance brought forward from the previous accounting period.
Unrestricted funds have increased the accumulated fund from (£4,399) to £12,752. The level of restricted funds carried forward amounts to £484,501 which relates to buildings and other fixed assets purchased with the aid of grant funding. These funds are being reduced each year in accordance with the Charity's depreciation policy.
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R.A.S.C.A.L. (Regeneration Association Somerton Community at Large) (Registered number: 06316554)
Report of the Trustees for the Year Ended 31 March 2024
Financial review
Reserves policy
The reserves policy of the charity recognises the need to hold reserves to ensure funds are available to continuing to run the activities of the Centre should the income levels fall. Reserves are also required to meet the future maintenance programme for the Centre building thus ensuring the facilities offered to service users is kept to a proper standard. A minimum level of reserves needs to be retained to ensure the trustees can operate their exit strategy and meet its legal commitments should the Charity be unable to continue due to a lack of a sustainable income stream.
Future plans
Youth Sessions Sports Sessions Bingo Breakfast Club Learning - Courses Young Parents Group Dancing Boxing External room hire Community Café Bowls Cookery Sessions Crèche Provision Community Events Councillor/PCSO Surgeries Onsite gym Job Clubs Meetings Polling Station Flying Start provision Digital Inclusion sessions Kung-fu
Structure, governance and management Legal Status
R.A.S.C.A.L is a charitable company limited by guarantee. The Charity is registered with the Charity Commission, number 1124771, is incorporated, number 06316554, and is regulated by its Constitution. The Charity was incorporated on 18 July 2007 and transferred its activities from the unincorporated entity on 1st August 2008.
Appointment of new trustees
The Trustees are appointed at the Annual General Meeting and are appointed from persons interested in furthering the Objectives of the Charity.
Organisational structure
The Trustees are responsible for the operational decisions, day to day running and administration of the Charity.The Charity is dependent upon the use of volunteers to provide support in running the activities of the centre. These volunteers are provided with the necessary training to enable them to carry out this function.
Induction and training of new trustees
New trustees are given details of the Charity by the existing trustees and further training as and when required.
Financial controls
Control over the charity's affairs is effected by an inspection by the Trustees.
Related parties
There are no related party transactions.
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R.A.S.C.A.L. (Regeneration Association Somerton Community at Large) (Registered number: 06316554)
Report of the Trustees for the Year Ended 31 March 2024
Reference and administrative details Registered Company number 06316554 (England and Wales) Registered Charity number 1124771 Registered office The Rascal Hope Centre 9 Poplar Road Newport NP19 9AX Trustees D Clark L Davies M Holland P A Moore S Dennis D Griffiths Independent Examiner Victoria Carter Haines Watts Wales LLP 7 Neptune Court Vanguard Way Cardiff CF24 5PJ Bankers Lloyds bank 42 Commercial Street Newport 25/03/2025 Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.......................................................................... D Clark - Trustee
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Independent Examiner's Report to the Trustees of R.A.S.C.A.L. (Regeneration Association Somerton Community at Large)
Independent examiner's report to the trustees of R.A.S.C.A.L. (Regeneration Association Somerton Community at Large) ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Victoria Carter
Haines Watts Wales LLP 7 Neptune Court Vanguard Way Cardiff CF24 5PJ
Date: .............................................
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R.A.S.C.A.L. (Regeneration Association Somerton Community at Large)
Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 March 2024
| Unrestricted Restricted fund funds Notes £ £ Income and endowments from Charitable activities Core Funding 44,663 - Investment income 2 31 - Total 44,694 - Expenditure on Charitable activities Core Funding 27,543 13,427 NET INCOME/(EXPENDITURE) 17,151 (13,427) Reconciliation of funds Total funds brought forward (4,399) 497,928 Total funds carried forward 12,752 484,501 |
2024 Total funds £ 44,663 31 44,694 40,970 3,724 493,529 497,253 |
2023 Total funds £ 47,576 5 47,581 70,271 (22,690) 516,219 493,529 |
|---|---|---|
The notes form part of these financial statements
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R.A.S.C.A.L. (Regeneration Association Somerton Community at Large) (Registered number: 06316554)
Balance Sheet 31 March 2024
| 2024 | 2023 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| fund | funds | funds | funds | |||
| Notes | £ | £ | £ | £ | ||
| Fixed assets | ||||||
| Tangible assets | 6 | 1,826 | 484,500 | 486,326 | 500,194 | |
| Current assets | ||||||
| Debtors | 7 | 4,216 | - | 4,216 | 3,109 | |
| Cash at bank | 10,141 | - | 10,141 | 2,411 | ||
| 14,357 | - | 14,357 | 5,520 | |||
| Creditors | ||||||
| Amounts falling due within one year | 8 | (3,430) | - | (3,430) | (12,185) | |
| Net current assets | 10,927 | - | 10,927 | (6,665) | ||
| Total assets less current liabilities | 12,753 | 484,500 | 497,253 | 493,529 | ||
| NET ASSETS | 12,753 | 484,500 | 497,253 | 493,529 | ||
| Funds | 9 | |||||
| Unrestricted funds | 12,753 | (4,399) | ||||
| Restricted funds | 484,500 | 497,928 | ||||
| Total funds | 497,253 | 493,529 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
25/03/2025
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. D Clark - Trustee
The notes form part of these financial statements
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R.A.S.C.A.L. (Regeneration Association Somerton Community at Large)
Notes to the Financial Statements for the Year Ended 31 March 2024
1. Accounting policies
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The financial statements have been prepared on a going concern basis. The Trustees have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Trustees have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.
Income
Donations are recognised where this is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.
Investment income is recognised when received.
Income from charitable activities include income received in advance of specified service or purchase is deferred until criteria for income recognition is met.
Grant income provides funding to support programme activities and the purchase of fixed assets and is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.
Expenditure
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 2% on cost Fixtures and fittings - 20% on cost and 10% on cost Computer equipment - 33.3% and 10% on cost
Individual fixed assets costing £300 or more are initially recorded at cost.
Taxation
The company is a registered charity whose income this year contains no non-primary purpose income.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
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R.A.S.C.A.L. (Regeneration Association Somerton Community at Large)
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
1. Accounting policies - continued
Fund accounting
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. Investment income
3.
| Investment income | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Deposit account interest | 31 | 5 |
| Net income/(expenditure) | ||
| Net income/(expenditure) is stated after charging/(crediting): | ||
| 2024 | 2023 | |
| £ | £ | |
| Depreciation - owned assets | 13,868 | 14,351 |
4. Trustees' remuneration and benefits
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
5. Comparatives for the statement of financial activities
| Unrestricted Restricted fund funds £ £ Income and endowments from Charitable activities Core Funding 47,576 - Investment income 5 - Total 47,581 - Expenditure on Charitable activities Core Funding 56,844 13,427 NET INCOME/(EXPENDITURE) (9,263) (13,427) Reconciliation of funds Total funds brought forward 4,864 511,355 Total funds carried forward (4,399) 497,928 |
Total funds £ 47,576 5 47,581 70,271 (22,690) 516,219 493,529 |
|---|---|
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R.A.S.C.A.L. (Regeneration Association Somerton Community at Large)
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
6. Tangible fixed assets
| Cost At 1 April 2023 and 31 March 2024 Depreciation At 1 April 2023 Charge for year At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 7. Debtors: amounts falling due within one year Trade debtors Prepayments and accrued income |
Long leasehold £ 671,372 173,445 13,428 186,873 484,499 497,927 |
Fixtures and Computer fittings equipment £ £ 51,166 33,011 50,901 31,009 81 359 50,982 31,368 184 1,643 265 2,002 2024 £ 1,328 2,888 4,216 |
Totals £ 755,549 |
Totals £ 755,549 |
|---|---|---|---|---|
| 255,355 13,868 |
||||
| 269,223 | ||||
| 486,326 | ||||
| 500,194 | ||||
| 2023 £ 2,495 614 |
||||
| 3,109 |
Debtors include amounts owed to the charity for the provision of goods and services or amounts the charity has paid in advance for the goods and services it will receive. Debtors are measured at their recoverable amounts.
8. Creditors: amounts falling due within one year
| Social security and other taxes Other creditors Accruals and deferred income |
2024 £ - - 3,430 3,430 |
2023 £ 963 8,341 2,881 |
|---|---|---|
| 12,185 |
Liabilities are amounts due to creditors and any provision made as a result of an obligation to transfer economic benefits, usually in the form of a cash payment, to a third party. Liabilities are measured at their settlement amount and recognised for the amount that the charity anticipates it will pay to settle the debt.
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R.A.S.C.A.L. (Regeneration Association Somerton Community at Large)
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
9. Movement in funds
| Unrestricted funds General fund Restricted funds Arena Network CFAP Ex TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Arena Network CFAP Ex TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Restricted funds Arena Network CFAP Ex TOTAL FUNDS |
Net movement At At 1.4.23 in funds 31.3.24 £ £ £ (4,399) 17,152 12,753 281,421 (7,658) 273,763 216,507 (5,770) 210,737 497,928 (13,428) 484,500 493,529 3,724 497,253 Incoming Resources Movement resources expended in funds £ £ £ 44,694 (27,542) 17,152 - (7,658) (7,658) - (5,770) (5,770) - (13,428) (13,428) 44,694 (40,970) 3,724 Net movement At At 1.4.22 in funds 31.3.23 £ £ £ 4,864 (9,263) (4,399) 289,078 (7,657) 281,421 222,277 (5,770) 216,507 511,355 (13,427) 497,928 516,219 (22,690) 493,529 |
|---|---|
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R.A.S.C.A.L. (Regeneration Association Somerton Community at Large)
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
9.
Movement in funds - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 47,581 | (56,844) | (9,263) |
| Restricted funds | |||
| Arena Network | - | (7,657) | (7,657) |
| CFAP Ex | - | (5,770) | (5,770) |
| - | (13,427) | (13,427) | |
| TOTAL FUNDS | 47,581 | (70,271) | (22,690) |
General funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
CFAP Ex - Money received for building extension, internal fixtures and fittings at HOPE centre
Arena Network - provided the grant to fund the new building construction costs.
10. Related party disclosures
There were no related party transactions for the year ended 31 March 2024 (2023: no related party transactions).
11. Members liability
The charity is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
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